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Thursday, 25 February 2016

Natural Gas Latest News Updates By MarketMagnify

Natural Gas futures extended a slide in the domestic and international market on Wednesday as investors resorted to a cautious approach ahead of the weekly US supplies data which may signal the state of the demand for the fuel in the world’s biggest gas consuming nation.

US gas supplies probably fell by 125 billion cubic feet in the week ended February 19, 2016, compared to 158 billion cubic feet in the prior week, 220 billion cubic feet in the same week a year ago and a five-year average draw of around 137 billion cubic feet.

At the MCX, Natural Gas futures for February 2016 contract closed at Rs 121.9 per mmBtu, down by 0.65 per cent, after opening at Rs 122.4, against the previous closing price of Rs 122.7. It touched an intra-day low of 120.7.